"Late binding" is a correct English language term for what you've done, yes :-)

Apparently, what has happened is that your project referenced the PIAs to an earlier version of Office. I'd have expected Office 2010 PIAs to automatically "re-route" references to earlier versions, but perhaps it doesn't work correctly with the VBE type
library. It's not a library used often in the Office interop as it's the interface for creating/modifying VBA code in an Office file.

Using late binding is an acceptable way to avoid version-dependency. Glad you've got things working!